<Page>
Exhibit 99.1
The Emerging Markets Telecommunications Fund, Inc.
466 Lexington Avenue
New York, New York 10017
FOR IMMEDIATE RELEASE
Contact: Investor Relations
(800) 293-1232
THE EMERGING MARKETS TELECOMMUNICATIONS FUND, INC.
DISCLOSES INFORMATION TO BE PRESENTED AT A MEETING
WITH AN INVESTOR
NEW YORK, SEPTEMBER 14, 2004 Credit Suisse Asset Management, LLC ("CSAM"), the
investment adviser to The Emerging Markets Telecommunications Fund, Inc. (NYSE:
ETF), will present the attached information to an investor at a meeting to be
held later today.
CSAM is part of Credit Suisse Asset Management, the institutional and
mutual-fund asset-management arm of Credit Suisse First Boston ("CSFB"). As of
June 30, 2004, Credit Suisse Asset Management managed over $335 billion in 14
countries, $12 billion of which is managed in the U.S. by CSFB's Alternative
Capital Division, an affiliate of CSAM.
* * *
<Page>
THE EMERGING MARKETS TELECOMMUNICATIONS FUND, INC. (ETF)
September 14, 2004
Emily Alejos, Chief Investment Officer
Michael Pignataro, Chief Financial Officer and Secretary
[CREDIT SUISSE ASSET MANAGEMENT LOGO] 1
<Page>
CONTENTS
- - GLOBAL EMERGING MARKETS AT CSAM
- Assets Under Management
- Equity Professionals
- - FUND OVERVIEW
- Top Ten Holdings
- Policy and Market Outlook
- Performance
- - PRIVATE EQUITY
- Investment Rationale
- Performance
- Holdings and Distributions
- - THE DISCOUNT
- NAV vs. Market Price Return
- Share Repurchase Program
- Impact of Tender Offers
- History of the Fund
- - APPENDIX
- Footnotes
- Legal Disclosures
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 2
<Page>
EMERGING MARKET ASSETS
AS OF JUNE 30, 2004
Total Emerging Markets Assets = $2.93 billion***
[CHART]
<Table>
Global Emerging Markets 19%
Latin America 6%
Asia 26%
Europe 18%
Country Funds 12%
Sector Funds 19%
</Table>
<Table>
<Caption>
MANDATE US$ M
- ----------------------- -------
Global Emerging Markets $ 564.7
Latin America $ 162.1
Asia $ 785.0
Emerging Europe $ 519.5
Country Funds* $ 341.5
Sector Funds** $ 558.1
</Table>
* Country funds: Brazil, Chile, Greater China, Indonesia, Israel, Korea
** Sector funds: Global Resources, Gold, Emerging Market Telecommunications
*** Assets include U.S. registered and non-U.S. registered Funds and assets
managed by non-SEC registered advisors. No offering of products and
services is made through this document.
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 3
<Page>
EMERGING MARKETS EQUITY PROFESSIONALS
<Table>
<Caption>
TEAM MEMBER FUNCTIONAL TITLE LOCATION
- ---------------- ---------------------------------------------------------- ---------
Emily Alejos Portfolio Manager, Latin America, GEMs, International New York
Annabel Betz Portfolio Manager, GEMs Economist/Strategist New York
Matthew Hickman Portfolio Manager, Latin America New York
Inacio Ponchet Portfolio Manager, Brazil Sao Paulo
Neil Gregson Head of Emerging Market Equities, Portfolio Manager, EMEA,
Global Resources London
Elizabeth Eaton Portfolio Manager, EMEA London
Jay Bhutani Research Analyst, Global Energy London
Simon Sheppard Research Analyst, Global Resources London
Krisztina Kozma Portfolio Manager, Hungary, Head of Office Budapest
Andrea Gidofalvy Portfolio Manager, Hungary Budapest
Gabor Toth Portfolio Manager, Hungary Budapest
Mariusz Blachut Portfolio Manager, Poland Warsaw
Pawel Klimkowski Portfolio Manager, Poland Warsaw
Petr Holinsky Portfolio Manager, Czech Republic Prague
Peter Sartori Portfolio Manager, Head of Asia ex-Japan Sydney
Boon H. Yeo Portfolio Manager, Deputy Head of Asia ex-Japan Sydney
Jonathon Ong Portfolio Manager, Asia Sydney
Eng-teck Tan Portfolio Manager, Asia Sydney
</Table>
Information may refer to Credit Suisse Asset Management, LLC and its global
affiliates. Advisory services of affiliates and their investment professionals
that are not properly registered are not offered hereby.
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 4
<Page>
TOP TEN HOLDINGS
AS OF JUNE 30, 2004
<Table>
<Caption>
MSCI EMF TELECOM
TOP TEN HOLDINGS THE FUND % INDEX %
- ----------------------------------- ---------- ----------------
America Movil, S.A. de C.V. 15.1 12.0
China Telecom Corp. Ltd. 6.1 4.4
Emerging Markets Ventures I L.P. 6.0 0.0
AO VimpelCom 4.5 0.0
MTN Group Ltd. 4.3 5.8
Telefonos de Mexico, S.A. de C.V. 4.3 10.9
Telkom South Africa Ltd. 3.9 2.0
NCsoft Corp. 3.4 0.0
Tele Norte Leste Participacoes S.A. 3.1 3.7
Telekom Malaysia Berhad 3.1 2.1
Total 53.7 40.9
</Table>
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 5
<Page>
POLICY AND MARKET OUTLOOK
AS OF JUNE 30, 2004
[CHART]
COUNTRY BREAKDOWN VERSUS BENCHMARK
<Table>
<Caption>
ETF MSCI EMF Telecoms
----- -----------------
Cash & Equivalents 2.36 0
Brazil 6.92 8.81
Chile 2.02
China 6.04 18.55
Indonesia 4.18 4.73
Investment Trusts (Multi-Country) 7.22 0
Israel 9.64
Malaysia 3.09 3.48
Mexico 19.38 22.86
Poland 2.76
Russia 9.54 1.37
South Africa 8.17 7.83
South Korea 7.04 10.76
Taiwan 2.81
Thailand 2.88
Other 16.42 11.14
</Table>
- - With emerging market telecommunication stocks performing well in Q1, it was
not surprising to see some profit-taking in Q2. The portfolio was
positioned conservatively and performed slightly better than the benchmark
as a result.
- - Share issuance was in focus during the quarter with important secondary
offerings occurring in both China and South Africa. The offerings initially
weighed on share performance but both were ultimately successful and
positive for the sector.
- - Most recently we've reduced our strong overweight in Russia as a result of
our ongoing political concerns (Yukos and other). On a fundamental basis,
however, Russia is one of the most attractive growth markets for
telecommunications (along with India, Brazil and Mexico).
* Other includes Argentina, Czech Republic, Egypt, Hungary, India, Israel,
Pakistan, Philippines, Turkey, and Venezuela.
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 6
<Page>
COMPARATIVE PERFORMANCE REPORT
AS OF JUNE 30, 2004
<Table>
<Caption>
INCEPTION
DATE 2000 2001 2002 2003 1Q04 2Q04 YTD
- ---------------------------------------------------------------------------------------------------------
THE EMERGING MARKETS TELECOM FUND, INC. 6/17/92
NAV Return -37.8% -17.3% -19.3% 24.6% 11.0% -3.4% 7.3%
Market Price Return -37.7 -13.2 -18.3 29.5 13.3 -9.2 2.8
MSCI Emerging Markets Index(a) -30.6 -2.4 -6.0 55.8 9.6 -9.6 -1.0
MSCI Emg. Mkts. Telecom Index(b) -31.1 -19.3 -20.9 42.5 9.0 -3.7 5.0
</Table>
- - Relative performance continued to be positive in the second quarter of
2002, with the Fund beating the MSCI Emerging Markets Telecommunications
Index by 30 basis points for the period. Year to date, the Fund has
outperformed the Telecom Index by 230 basis points and the broad emerging
markets index by 830 basis points.
- - Strong performance during the second quarter was mostly a result of stock
selection in Asia, asset allocation and stock selection in Latin America,
and stock selection in Europe, the Middle East and Africa. Stock selection
was particularly strong in South Korea due to the inclusion of a
non-benchmark company called NCsoft Corp, an on-line gaming company. The
Korean market was a poor performer in the second quarter down approximately
11%. NCsoft, in contrast, was up 34% for the period. Also positive for
performance was the decision to underweight Latin American
telecommunications securities which were down 5%.
- - Private placements had an average weight of 21.6% of the Fund and were down
approximately 5% for the quarter. Year to date, the public securities
portion of the Fund is up 12.2% vs. the Telecom Index which is up 5%.
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 7
<Page>
PRIVATE EQUITY INVESTMENT RATIONALE
INVESTMENT RATIONALE: We believe private equity investments add value over the
long-term. Fund shareholders should expect the Fund to hold both publicly
traded and non-publicly traded securities for the foreseeable future.
- - As of August 31st, the private equity holdings in the Fund were valued at
$17.3 million, totaling 21.9% of the portfolio's net assets.
- - The remaining open commitments are $10.9 million. If all of the open
commitments are called, private equity would account for over 30% of the
portfolio.
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 8
<Page>
PRIVATE EQUITY PERFORMANCE
PRIVATE EQUITY PERFORMANCE HAS LAGGED RECENTLY...
<Table>
<Caption>
YEAR ENDED QUARTER ENDED QUARTER ENDED YEAR TO DATE
31-DEC-03 31-MAR-04 30-JUNE-04 30-JUNE-04
The Emerging Markets Telecommunications Fund
NAV Return 24.6% 11.0% -3.4% 7.3%
Portfolio return excluding Private Placements(c) 48.5% 15.6% -2.9% 12.2%
Private Equity IRR(d) -12.5% -3.2% -4.8% -7.9%
MSCI Emerging Markets Index(a) 55.8% 9.6% -9.6% -1.0%
MSCI Emerging Markets Telecom Index(b) 42.5% 9.0% -3.7% 5.0%
</Table>
....BUT HAS ADDED VALUE OVER TIME.
<Table>
<Caption>
PRIVATE ETF NAV
YEAR EQUITY IRR(d) RETURN
1998 31.0% -18.5%
1999 55.0% 85.9%
2000 23.1% -37.8%
2001 -14.0% -17.3%
2002 -26.7% -19.3%
2003 -12.5% 24.6%
1Q04 -3.2% 11.0%
2Q04 -4.8% -3.4%
Since Inception 9.8% 4.8%
</Table>
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 9
<Page>
RESTRICTED SECURITIES
<Table>
<Caption>
NUMBER FAIR
OF ACQUISITION VALUE AT
SECURITY UNITS/SHARES DATE(S) COST 05/31/04
-------- ------------ ------------------- ----------- ----------
BPW Israel Ventures LLC 1,156,470 10/05/00 - 06/30/03 $ 957,537 $ 772,886
17,250 12/26/03 17,250 11,528
291,878 02/11/04 291,878 195,067
------------ ----------- ----------
1,465,598 1,266,665 979,481
============ =========== ==========
Concord Ventures Fund II, L.P. 3,280,000 03/29/00 - 07/15/03 2,639,696 1,264,476
120,000 03/02/04 120,000 46,261
------------ ----------- ----------
3,400,000 2,759,696 1,310,737
============ =========== ==========
Emerging Markets Ventures I, L.P. 7,075,037 01/22/98 - 06/30/03 5,306,621 4,870,739
36,095 12/30/03 36,095 24,849
------------ ----------- ----------
7,111,132 5,342,716 4,895,588
------------ ----------- ----------
Exxel Capital Partners V, L.P. 1,897,761 05/11/98 - 12/03/98 539,966 0
============ =========== ==========
Formula Ventures L.P. 1,467,094 08/06/99 - 07/24/03 561,945 242,511
------------ ----------- ----------
Giza GE Venture Fund III, L.P. 1,540,000 01/31/00 - 04/30/03 1,232,254 832,447
165,000 12/10/03 165,000 89,191
165,000 03/15/2004 165,000 89,191
============ =========== ==========
1,870,000 1,562,254 1,010,829
------------ ----------- ----------
Independent Network Television, Series II 1,000,000 07/06/98 1,000,000 500,000
------------ ----------- ----------
International Wireless Communications Holdings Corp. 15,092 12/08/97 414,568 0
============ =========== ==========
J.P. Morgan Latin America Capital Partners (Cayman), L.P. 798,055 04/10/00 - 05/28/03 782,440 694,084
------------ ----------- ----------
J.P. Morgan Latin America Capital Partners (Delaware), L.P. 1,188,453 04/10/00 - 04/17/03 695,468 426,881
94,588 03/26/2004 55,352 33,975
============ =========== ==========
1,283,041 750,820 460,856
------------ ----------- ----------
K.T. Concord Venture Fund L.P. 2,000,000 12/08/97 - 09/29/00 1,866,215 1,049,978
------------ ----------- ----------
Neurone Ventures II, L.P. 337,500 11/24/00 - 06/23/03 259,715 161,092
67,500 05/26/04 67,500 32,218
============ =========== ==========
405,000 327,215 193,310
------------ ----------- ----------
<Caption>
PERCENT
VALUE PER OF NET DISTRIBUTIONS
SECURITY UNIT/SHARE ASSETS RECEIVED
-------- ---------- ------- -------------
BPW Israel Ventures LLC $ 0.67 0.96
0.67 0.02
0.67 0.24
------- -------------
1.22 --
======= =============
Concord Ventures Fund II, L.P. 0.39 1.57
0.39 0.06
------- -------------
1.63 --
======= =============
Emerging Markets Ventures I, L.P. 0.69 6.07
0.69 0.03
------- -------------
6.10 $ 1,169,680
------- -------------
Exxel Capital Partners V, L.P. 0.00 0.00 205,185
======= =============
Formula Ventures L.P. 0.17 0.30 292,476
------- -------------
Giza GE Venture Fund III, L.P. 0.54 1.04
0.54 0.11
0.54 0.11
======= =============
1.26 64,135
------- -------------
Independent Network Television, Series II 0.50 0.62 --
------- -------------
International Wireless Communications Holdings Corp. 0.00 0.00 10,564
======= =============
J.P. Morgan Latin America Capital Partners (Cayman), L.P. 0.87 0.87 28
------- -------------
J.P. Morgan Latin America Capital Partners (Delaware), L.P. 0.36 0.53
0.36 0.04
======= =============
0.57 594,742
------- -------------
K.T. Concord Venture Fund L.P. 0.52 1.31 659,447
------- -------------
Neurone Ventures II, L.P. 0.48 0.20
0.48 0.04
======= =============
0.24 27,699
------- -------------
</Table>
Source: ETF Semiannual Report
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 10
<Page>
<Table>
<Caption>
RESTRICTED SECURITIES (CONT.)
NUMBER FAIR
OF ACQUISITION VALUE AT
SECURITY UNITS/SHARES DATE(S) COST 05/31/04
-------- ------------ ------------------- -------------- --------------
The Renaissance Fund LDC 160 03/30/94 - 03/21/97 $ 485,495 $ 99,286
============ ============== ==============
SVE Star Ventures Enterprises
GmbH & Co. No. IX KG. 1,000,000 12/21/00 - 08/18/03 807,059 499,450
------------ -------------- --------------
Technology Crossover Ventures
IV. L.P. 1,440,400 03/08/00 - 11/14/03 897,138 1,036,927
86,400 01/15/04 84,675 62,198
------------ -------------- --------------
1,526,800 981,813 1,099,125
------------ -------------- --------------
TeleSoft Partners L.P. 1,250,000 07/22/97 - 06/07/01 614,980 212,763
------------ -------------- --------------
TeleSoft Partners II QP, L.P. 1,140,000 07/14/00 - 12/12/02 894,201 522,918
120,000 12/08/03 120,000 55,044
============ ============== ==============
1,260,000 1,014,201 577,962
------------ -------------- --------------
TVG Asian Communications
Fund II, L.P. 2,930,599 06/07/00 - 11/07/03 2,700,895 2,106,570
77,775 12/31/03 77,775 55,906
------------ -------------- --------------
3,008,374 2,778,670 2,162,476
------------ -------------- --------------
Walden-Israel Ventures III. L.P. 340,313 02/23/01 - 10/09/03 263,688 226,073
83,875 02/02/04 83,875 55,719
68,750 05/27/04 68,750 45,671
------------ -------------- --------------
492,938 416,313 327,463
============ ============== ==============
Total $ 24,273,031 $ 16,315,899
============== ==============
<Caption>
PERCENT
VALUE PER OF NET DISTRIBUTIONS
SECURITY UNIT/SHARE ASSETS RECEIVED
-------- ---------- ------- -------------
The Renaissance Fund LDC $ 620.54 0.12 $ 1,497,612
======= =============
SVE Star Ventures Enterprises
GmbH & Co. No. IX KG. 0.50 0.62 --
------- -------------
Technology Crossover Ventures
IV. L.P. 0.72 1.29
0.72 0.08
------- -------------
1.37 591,272
------- -------------
TeleSoft Partners L.P. 0.17 0.27 7,180,939
------- -------------
TeleSoft Partners II QP, L.P. 0.46 0.65
0.46 0.07
======= =============
0.72 113,986
------- -------------
TVG Asian Communications
Fund II, L.P. 0.72 2.62
0.72 0.07
------- -------------
2.69 91,040
------- -------------
Walden-Israel Ventures III. L.P. 0.66 0.28
0.66 0.07
0.66 0.06
------- -------------
0.41 --
======= =============
Total 20.32 $ 12,498,805
======= =============
</Table>
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 11
<Page>
CURRENT SHARE REPURCHASE PROGRAM
On December 4, 2003, The Emerging Markets Telecommunications Fund, Inc. (NYSE:
ETF) (the "Fund") announced that its Board of Directors, at a meeting held on
November 21, 2003, authorized management to make open market purchases from time
to time in an amount up to 10% of the Fund's outstanding shares whenever the
Fund's shares are trading at a discount to net asset value of 15% or more. Open
market purchases may also be made within the discretion of management if the
discount is less than 15%. The Board has instructed management to report
repurchase activity to it regularly, and to post the number of shares
repurchased on the Fund's website on a monthly basis. Set forth below is a
report for 2004.
REPURCHASE SUMMARY
<Table>
<Caption>
MONTH SHARES AMOUNT NAV IMPACT(E)
- -------------------------------------------------------
January-04 0 $ 0.00 0.00000
February-04 60,100 $ 482,994.92 0.00826
March-04 99,000 $ 804,612.18 0.01285
April-04 49,200 $ 412,523.15 0.00667
May-04 55,400 $ 410,204.00 0.00809
June-04 37,600 $ 290,189.75 0.00577
July-04 70,600 $ 543,708.51 0.01141
August-04 29,600 $ 225,818.92 0.00429
TOTAL: 401,500 3,170,051.43 0.05734
</Table>
- - Year to date through August 31, 2004, approximately 4.4% of the Fund has
been repurchased.
Source: BEAR STEARNS / ETF WEBSITE
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 12
<Page>
TENDER OFFERS HAVE NOT HAD A LASTING IMPACT ON DISCOUNT
[CHART]
NAV/MARKET PRICE COMPARISON
<Table>
<Caption>
NAV PRICE
----- ------
1/5/2001 10.9 8.4375
1/12/2001 11.25 8.875
1/19/2001 11.72 9.3125
1/26/2001 11.6 9.5
1/31/2001 11.81 9.5
2/2/2001 11.78 9.5
2/9/2001 11.45 8.81
2/16/2001 11.25 8.97
2/23/2001 10.92 8.53
2/28/2001 10.79 8.53
3/2/2001 10.72 8.5
3/9/2001 10.64 8.55
3/16/2001 10.18 8.1
3/23/2001 9.74 7.55
3/30/2001 9.59 7.58
4/6/2001 9.42 7.25
4/12/2001 9.96 7.76
4/20/2001 10.08 8.35
4/27/2001 10.22 8.21
4/30/2001 10.34 8.42
5/5/2001 10.48 8.4
5/11/2001 10.28 8.25
5/18/2001 10.41 8.18
5/25/2001 10.5 8.17
5/31/2001 10.22 8.02
6/1/2001 10.24 7.98
6/8/2001 10.53 8.3
6/15/2001 10.09 8.16
6/22/2001 9.99 8.05
6/29/2001 9.89 8.11
7/6/2001 9.7 8.05
7/13/2001 9.47 7.88
7/20/2001 9.39 7.66
7/27/2001 9.43 7.6
7/31/2001 9.45 7.65
8/3/2001 9.58 7.6
8/10/2001 9.33 7.5
8/17/2001 9.07 7.37
8/24/2001 8.85 7.34
8/31/2001 8.77 7.1
9/7/2001 8.27 6.86
9/21/2001 7.65 5.82
9/28/2001 7.81 6.31
10/5/2001 7.87 6.4
10/12/2001 8.01 6.6
10/19/2001 7.87 6.39
10/26/2001 8.02 6.45
10/31/2001 7.96 6.49
11/2/2001 8.07 6.58
11/9/2001 8.22 6.88
11/16/2001 8.37 6.99
11/23/2001 8.58 6.8
11/30/2001 8.42 6.88
12/7/2001 8.81 7.11
12/14/2001 8.56 7
12/21/2001 8.5 6.86
12/28/2001 8.73 7
12/31/2001 8.56 7.05
1/4/2002 8.9 7.21
1/11/2002 8.62 7.08
1/18/2002 8.51 7.07
1/25/2002 8.8 7.25
1/31/2002 8.72 7.14
2/1/2002 8.65 7.17
2/8/2002 8.51 6.98
2/15/2002 8.66 7.02
2/22/2002 8.51 7.03
2/28/2002 8.54 7.07
3/1/2002 8.63 7.14
3/8/2002 8.92 7.51
3/15/2002 8.84 7.4
3/22/2002 8.95 7.38
3/28/2002 9 7.46
4/5/2002 8.87 7.42
4/12/2002 8.67 7.37
4/19/2002 8.87 7.46
4/26/2002 8.81 7.3
4/30/2002 8.77 7.35
5/3/2002 8.76 7.48
5/10/2002 8.69 7.3
5/17/2002 9.02 7.56
5/24/2002 8.95 7.5
5/31/2002 8.71 7.48
6/7/2002 8.54 7.3
6/14/2002 8.53 7.03
6/21/2002 8.17 6.8
6/28/2002 8 6.77
7/5/2002 8.11 6.82
7/12/2002 8.1 6.62
7/19/2002 7.97 6.49
7/26/2002 7.45 6.18
7/31/2002 7.55 6.4
8/2/2002 7.44 6.05
8/9/2002 7.41 6.37
8/16/2002 7.62 6.4
8/23/2002 7.53 6.3
8/30/2002 7.31 6.25
9/6/2002 7.12 5.96
9/13/2002 7.18 5.9
9/20/2002 6.95 5.69
9/27/2002 6.83 5.55
9/30/2002 6.69 5.51
10/4/2002 6.83 5.57
10/11/2002 6.61 5.6
10/18/2002 6.78 5.68
10/25/2002 6.77 5.85
10/31/2002 6.76 5.97
11/1/2002 6.76 5.92
11/8/2002 6.95 5.73
11/15/2002 7.05 5.82
11/22/2002 7.17 5.92
11/29/2002 7.3 6.22
12/6/2002 7.29 6.07
12/13/2002 7.18 6
12/20/2002 7.19 5.84
12/27/2002 7.05 5.81
12/31/2002 6.91 5.76
1/3/2003 7.01 5.86
1/10/2003 7.05 5.86
1/17/2003 7.02 5.82
1/24/2003 6.69 5.48
1/31/2003 6.66 5.5
2/7/2003 6.5 5.4
2/14/2003 6.42 5.32
2/21/2003 6.55 5.39
2/28/2003 6.42 5.33
3/7/2003 6.34 5.24
3/14/2003 6.32 5.27
3/21/2003 6.41 5.43
3/28/2003 6.29 5.36
3/31/2003 6.25 5.28
4/4/2003 6.42 5.44
4/11/2003 6.5 5.31
4/17/2003 6.62 5.53
4/25/2003 6.57 5.47
4/30/2003 6.72 5.69
5/2/2003 6.78 5.7
5/9/2003 6.88 5.78
5/16/2003 6.86 5.72
5/23/2003 6.86 5.69
5/30/2003 7 5.82
6/6/2003 7 6.04
6/13/2003 7.1 5.91
6/20/2003 7.2 6.09
6/27/2003 7.2 6.14
6/30/2003 7.18 6.09
7/3/2003 7.26 6.15
7/11/2003 7.26 6.16
7/18/2003 7.21 6.11
7/25/2003 7.28 6.12
7/31/2003 7.34 6.21
8/1/2003 7.32 6.2
8/8/2003 7.28 6.05
8/15/2003 7.42 6.31
8/22/2003 7.53 6.34
8/29/2003 7.61 6.58
9/5/2003 7.74 6.55
9/12/2003 7.63 6.5
9/19/2003 7.82 6.64
9/26/2003 7.71 6.37
9/30/2003 7.76 6.52
10/3/2003 7.98 6.8
10/10/2003 8.15 6.73
10/17/2003 8.19 6.72
10/24/2003 8.08 6.75
10/31/2003 8.17 6.9
11/7/2003 8.26 7.06
11/14/2003 8.17 6.88
11/21/2003 7.97 6.74
11/28/2003 8.17 6.85
12/5/2003 8.34 6.9
12/12/2003 8.35 6.9
12/19/2003 8.32 7.05
12/26/2003 8.4 7.11
12/31/2003 8.61 7.46
1/2/2004 8.74 7.5
1/9/2004 9.15 8.3
1/16/2004 8.96 8.61
1/23/2004 9.34 8.8
1/30/2004 9.02 8.1
2/6/2004 9.03 8.18
2/13/2004 9.36 8.29
2/20/2004 9.28 7.89
2/27/2004 9.27 8.26
3/5/2004 9.58 8.28
3/12/2004 9.2 7.92
3/19/2004 9.32 8.09
3/26/2004 9.3 8.28
3/31/2004 9.56 8.45
4/2/2004 9.73 8.52
4/8/2004 9.9 8.75
4/16/2004 9.6 8.38
4/23/2004 9.58 8.14
4/30/2004 8.97 7.88
5/7/2004 8.8 7.27
5/14/2004 8.58 7.15
5/21/2004 8.76 7.41
5/28/2004 9.02 7.76
6/4/2004 8.89 7.6
6/10/2004 9.15 7.74
6/18/2004 9.04 7.66
6/25/2004 9.14 7.75
6/30/2004 9.24 7.67
7/2/2004 9.23 7.76
7/9/2004 9.14 7.61
7/16/2004 9.17 7.83
7/23/2004 9 7.59
7/30/2004 8.94 7.74
8/6/2004 8.73 7.6
8/13/2004 8.79 7.43
8/20/2004 8.97 7.63
8/27/2004 8.99 7.69
8/31/2004 9.02 7.64
</Table>
<Table>
<Caption>
% PREMIUM/DISCOUNT
------------------
1/5/2001 -22.59
1/12/2001 -21.11
1/19/2001 -20.54
1/26/2001 -18.1
1/31/2001 -19.56
2/2/2001 -19.35
2/9/2001 -23.06
2/16/2001 -20.27
2/23/2001 -21.89
2/28/2001 -20.95
3/2/2001 -20.71
3/9/2001 -19.64
3/16/2001 -20.43
3/23/2001 -22.48
3/30/2001 -20.96
4/6/2001 -23.04
4/12/2001 -22.09
4/20/2001 -17.16
4/27/2001 -19.67
4/30/2001 -18.57
5/5/2001 -19.85
5/11/2001 -19.75
5/18/2001 -21.42
5/25/2001 -22.19
5/31/2001 -21.53
6/1/2001 -22.07
6/8/2001 -21.18
6/15/2001 -19.13
6/22/2001 -19.42
6/29/2001 -18
7/6/2001 -17.01
7/13/2001 -16.79
7/20/2001 -18.42
7/27/2001 -19.41
7/31/2001 -19.05
8/3/2001 -20.67
8/10/2001 -19.61
8/17/2001 -18.74
8/24/2001 -17.06
8/31/2001 -19.04
9/7/2001 -17.05
9/21/2001 -23.92
9/28/2001 -19.21
10/5/2001 -18.68
10/12/2001 -17.6
10/19/2001 -18.81
10/26/2001 -19.58
10/31/2001 -18.47
11/2/2001 -18.46
11/9/2001 -16.3
11/16/2001 -16.49
11/23/2001 -20.75
11/30/2001 -18.29
12/7/2001 -19.3
12/14/2001 -18.22
12/21/2001 -19.29
12/28/2001 -19.82
12/31/2001 -17.64
1/4/2002 -18.99
1/11/2002 -17.87
1/18/2002 -16.92
1/25/2002 -17.61
1/31/2002 -18.12
2/1/2002 -17.11
2/8/2002 -17.98
2/15/2002 -18.94
2/22/2002 -17.39
2/28/2002 -17.21
3/1/2002 -17.27
3/8/2002 -15.81
3/15/2002 -16.29
3/22/2002 -17.54
3/28/2002 -17.11
4/5/2002 -16.35
4/12/2002 -14.99
4/19/2002 -15.9
4/26/2002 -17.14
4/30/2002 -16.19
5/3/2002 -14.61
5/10/2002 -16
5/17/2002 -16.19
5/24/2002 -16.2
5/31/2002 -14.12
6/7/2002 -14.52
6/14/2002 -17.58
6/21/2002 -16.77
6/28/2002 -15.38
7/5/2002 -15.91
7/12/2002 -18.27
7/19/2002 -18.57
7/26/2002 -17.05
7/31/2002 -15.23
8/2/2002 -18.68
8/9/2002 -14.04
8/16/2002 -16.01
8/23/2002 -16.33
8/30/2002 -14.5
9/6/2002 -16.29
9/13/2002 -17.83
9/20/2002 -18.13
9/27/2002 -18.74
9/30/2002 -17.64
10/4/2002 -18.45
10/11/2002 -15.28
10/18/2002 -16.22
10/25/2002 -13.59
10/31/2002 -11.69
11/1/2002 -12.43
11/8/2002 -17.55
11/15/2002 -17.45
11/22/2002 -17.43
11/29/2002 -14.79
12/6/2002 -16.74
12/13/2002 -16.43
12/20/2002 -18.78
12/27/2002 -17.59
12/31/2002 -16.64
1/3/2003 -16.41
1/10/2003 -16.88
1/17/2003 -17.09
1/24/2003 -18.09
1/31/2003 -17.42
2/7/2003 -16.92
2/14/2003 -17.13
2/21/2003 -17.71
2/28/2003 -16.98
3/7/2003 -17.35
3/14/2003 -16.61
3/21/2003 -15.29
3/28/2003 -14.79
3/31/2003 -15.52
4/4/2003 -15.26
4/11/2003 -18.31
4/17/2003 -16.47
4/25/2003 -16.74
4/30/2003 -15.33
5/2/2003 -15.93
5/9/2003 -15.99
5/16/2003 -16.62
5/23/2003 -17.06
5/30/2003 -16.86
6/6/2003 -13.71
6/13/2003 -16.76
6/20/2003 -15.42
6/27/2003 -14.72
6/30/2003 -15.18
7/3/2003 -15.29
7/11/2003 -15.15
7/18/2003 -15.26
7/25/2003 -15.93
7/31/2003 -15.4
8/1/2003 -15.3
8/8/2003 -16.9
8/15/2003 -14.96
8/22/2003 -15.8
8/29/2003 -13.53
9/5/2003 -15.37
9/12/2003 -14.81
9/19/2003 -15.09
9/26/2003 -17.38
9/30/2003 -15.98
10/3/2003 -14.79
10/10/2003 -17.42
10/17/2003 -17.95
10/24/2003 -16.46
10/31/2003 -15.54
11/7/2003 -14.53
11/14/2003 -15.79
11/21/2003 -15.43
11/28/2003 -16.16
12/5/2003 -17.27
12/12/2003 -17.37
12/19/2003 -15.26
12/26/2003 -15.36
12/31/2003 -13.36
1/2/2004 -14.19
1/9/2004 -9.29
1/16/2004 -3.91
1/23/2004 -5.78
1/30/2004 -10.2
2/6/2004 -9.41
2/13/2004 -11.43
2/20/2004 -14.98
2/27/2004 -10.9
3/5/2004 -13.57
3/12/2004 -13.91
3/19/2004 -13.2
3/26/2004 -10.97
3/31/2004 -11.61
4/2/2004 -12.44
4/8/2004 -11.62
4/16/2004 -12.71
4/23/2004 -15.03
4/30/2004 -12.15
5/7/2004 -17.39
5/14/2004 -16.67
5/21/2004 -15.41
5/28/2004 -13.97
6/4/2004 -14.51
6/10/2004 -15.41
6/18/2004 -15.27
6/25/2004 -15.21
6/30/2004 -16.99
7/2/2004 -15.93
7/9/2004 -16.74
7/16/2004 -14.61286805
7/23/2004 -15.66666667
7/30/2004 -13.42281879
8/6/2004 -12.94387171
8/13/2004 -15.47212742
8/20/2004 -14.9386845
8/27/2004 -14.46051168
8/31/2004 -15.29933481
</Table>
Source: Lipper Quarterly Closed-End Fund Performance Analysis and CSAM
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 13
<Page>
THE EMERGING MARKETS TELECOMMUNICATIONS FUND, INC.
JUNE 1ST 1992 Equity offering for The Emerging Markets
Telecommunications Fund, Inc.
DECEMBER 20th 1993 Equity offering for The Emerging Markets
Infrastructure Fund (EMG)
NOVEMBER 3rd 2000 Merged with EMG
EMG had a 50% tender offer at the time of the merger
EMG held $16.2 million in private equity at the time of
the merger
OCTOBER 26th 2001 Tender Offer (15% of outstanding shares)
OCTOBER 28th 2002 Tender Offer (15% of outstanding shares)
CURRENT Share buyback of up to 10% of outstanding shares
Source: Description provided by Bassini Playfair Wright
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 14
<Page>
FOOTNOTES
(a) The Morgan Stanley Capital International Emerging Markets Index is an
unmanaged index (with no defined investment objective) of emerging-market
equities that includes reinvestment of dividends, and is the exclusive
property of Morgan Stanley Capital International Inc. Investors cannot
invest directly in an index.
(b) The Morgan Stanley Capital International EM (Emerging Markets)
Telecommunication Services Index is a free float-adjusted market
capitalization index that is designed to measure the performance of
telecommunications equities in emerging markets. It is the exclusive
property of Morgan Stanley Capital International Inc. Investors cannot
invest directly in an index.
(c) The performance for the portfolio excluding private placements is
calculated internally using the Wilshire attribution system.
(d) The IRR return is determined by the change in the value of the private
equity investments in the Fund over the stated period, including cash flows
during the period.
(e) "NAV Impact" represents the anti-dilutive impact on the net asset value per
share of the Fund due to the repurchase of capital shares.
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 15
<Page>
LEGAL DISCLOSURES
- - This material has been prepared by Credit Suisse Asset Management, LLC on
the basis of publicly available information, internally developed data and
other third party sources believed to be reliable. However, no assurances
are provided regarding the reliability of such information. All opinions
and views constitute judgements as of the date of writing, and are subject
to change at any time without notice.
- - Credit Suisse Asset Management, LLC is a member of Credit Suisse Asset
Management, the institutional and mutual fund asset management arm of
Credit Suisse First Boston, the investment banking business of Credit
Suisse Group.
- - The data presented is for informational purposes only. This report is not a
current or past recommendation or a solicitation of an offer to buy or sell
any securities or to adopt any investment strategy. Readers are advised not
to assume that any investment in securities, companies, sectors or markets
described will be profitable. The companies, securities, sectors and/or
markets listed herein are included solely for illustrative purposes
regarding economic trends and conditions or investment process and may or
may not be held by accounts managed by Credit Suisse Asset Management, LLC
or its affiliates. Characteristics and performance of individual client
accounts will vary.
- - Investing entails risks, including possible loss of principal. There are
special risk considerations associated with international investing,
especially in emerging markets. International investing entails special
risk considerations, including currency fluctuations, lower liquidity,
economic and political risks, and differences in accounting methods; these
risks are generally heightened for emerging market investments. Since the
Fund focuses its investments on companies involved in telecommunications,
an investment in the Fund may involve a greater degree of risk than an
investment in other funds that seek capital appreciation by investing in a
broader mix of issuers. The information presented is for informational
purposes only. This is not a recommendation to buy or sell or a
solicitation of an offer to buy or sell any securities or adopt any
investment strategy. Past performance is no guarantee of future
performance.
[CREDIT SUISSE ASSET MANAGEMENT LOGO] September 2004 Slide 16